Filtering SaaS MX Logic: Update

MX Logic is a well-established email- and Web-filtering SaaS. Here's an update on the company.

Main Service Elements:

  • Email virus control.
  • Email spam control.
  • Email archiving.
  • Email disaster recovery/continuity; webmail access if Exchange/Notes goes down.
  • Web malware and content filtering.

Indicative End Customer Pricing:

  • Spam and virus filtering is $1.35 to $2.75/user/month.
  • Archiving is $2 to $6.50/user/month.
  • Web protection is $2 to $4/user/month.
  • Pricing various on volume and mix of services selected.
  • Typical customer with 150 seats would spend $2.80/user/month for email and Web filtering.

Main Competition:

  • Symantec/MessageLabs.
  • Google/Postini.

Points of Differentiation as Perceived by MX Logic:

  • Ease of use.
  • Go-to-market strategy is now 100% channel-based.
  • Easy for partners to impose own branding, and integrate with their own solutions.
  • Easy contractual terms; e.g., month-to-month term.

Financials & Company:

  • 200 staff.
  • GAAP revenues: 2008 about $30M; 2007-$22M; 2006-$15M.
  • Profitable since December 2007.
  • External funding from VCs, have taken $30M to $35M.
  • Focus is on sales to SMBs although company has a number of large corporate clients.
  • Company says it has 31,000 active paying customers; a total of 4 million active seats.

... David Ferris

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